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The Dollar remained under pressure due to uncertainty over US interest rate hikes in the future, while global stocks fell, boosting investor appetite for safe-haven assets.

The Fed meeting minutes showed thatmost Fed members see that the global economic and financial situation still carries significant downside risk and they also discussed whether there was a need to raise interest rates in April or not, according to the minutes of March. Policymakers had noted that they expect to hike rates twice this year, but the timing of the hikes stayed undecided.

USD index recovered slightly at the end of yesterday’s trading session and settled at 94.55 levels.

On Thursday, EUR declined vs. USD, negatively affected by the ECB meeting minutes. The fiber fell to $1.1366 and could settle at $1.1350 and $1.14 levels by the end of this week.

GBP approached the critical level of $1.40, before paring losses to settle at $1.4050. Breaking the key levels of $1.40 is very important as it could open the door for further declines, however, the pound may benefit from any weakness in the USD.

USD/JPY declined to 107.50, as the pair was hammered down on bets the BOJ will refrain from intervening.

Gold prices ticked up to $1,240, thanks to the Fed Reserve meeting’s minutes as Fed remains cautious on rates.

DisclaimerThe prices and news mentioned in this outlook are absolutely no guarantee of future market performance and do not represent the view of ICM Capital Limited. Financial markets can move in either direction causing profits to be made or complete losses to be incurred by the trader. Each trader must decide for themselves what their risk appetite is and ensure that correct risk management procedures are in place before placing any trades.

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